MetroCity Bankshares, Inc. (NASDAQ:MCBS) President Farid Tan Sells 5,983 Shares

MetroCity Bankshares, Inc. (NASDAQ:MCBS) President Farid Tan sold 5,983 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $35.64, for a total value of $213,234.12. Following the sale, the president now owns 914,888 shares of the company’s stock, valued at approximately $32,606,608.32. The trade was a 0.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Farid Tan also recently made the following trade(s):

• On Wednesday, November 13th, Farid Tan sold 749 shares of MetroCity Bankshares stock. The stock was sold at an average price of $35.56, for a total value of $26,634.44.
• On Monday, November 11th, Farid Tan sold 1,868 shares of MetroCity Bankshares stock. The stock was sold at an average price of $35.55, for a total value of $66,407.40.
• On Wednesday, November 6th, Farid Tan sold 21,000 shares of MetroCity Bankshares stock. The stock was sold at an average price of $33.81, for a total transaction of $710,010.00.

MetroCity Bankshares Stock Down 0.2 %

Shares of MetroCity Bankshares stock opened at $34.34 on Friday. The business has a fifty day simple moving average of $31.62 and a 200 day simple moving average of $28.88. The stock has a market cap of $869.83 million, a PE ratio of 14.80 and a beta of 0.60. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.92. MetroCity Bankshares, Inc. has a 12 month low of $19.85 and a 12 month high of $36.15.

MetroCity Bankshares (NASDAQ:MCBS) last posted its earnings results on Friday, October 18th. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.01. The company had revenue of $60.45 million during the quarter. MetroCity Bankshares had a return on equity of 14.97% and a net margin of 25.54%.

MetroCity Bankshares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Wednesday, October 30th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.68%. The ex-dividend date of this dividend was Wednesday, October 30th. This is an increase from MetroCity Bankshares’s previous quarterly dividend of $0.20. MetroCity Bankshares’s dividend payout ratio is presently 39.66%.

Institutional Investors Weigh In On MetroCity Bankshares

Hedge funds have recently bought and sold shares of the company. Barclays PLC increased its position in shares of MetroCity Bankshares by 345.5% in the 3rd quarter. Barclays PLC now owns 28,341 shares of the company’s stock valued at $868,000 after buying an additional 21,979 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in MetroCity Bankshares by 4.5% during the second quarter. Dimensional Fund Advisors LP now owns 364,142 shares of the company’s stock worth $9,612,000 after acquiring an additional 15,796 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in MetroCity Bankshares in the second quarter valued at about $377,000. Vanguard Group Inc. increased its holdings in shares of MetroCity Bankshares by 1.5% in the first quarter. Vanguard Group Inc. now owns 981,024 shares of the company’s stock worth $24,486,000 after acquiring an additional 14,868 shares in the last quarter. Finally, State Street Corp raised its position in shares of MetroCity Bankshares by 2.9% during the third quarter. State Street Corp now owns 429,312 shares of the company’s stock worth $13,146,000 after purchasing an additional 11,900 shares during the period. 25.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods raised their price objective on shares of MetroCity Bankshares from $32.00 to $34.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd.

About MetroCity Bankshares

MetroCity Bankshares, Inc operates as the bank holding company for Metro City Bank that engages in the provision of banking products and services in the United States. It offers customary banking services, such as consumer and commercial checking accounts, savings, and money market accounts, as well as certificates of deposit.